Etsy said in a US Securities and Exchange Commission filing earlier this week (5 August) that the restructuring hopes to “improve coordination and speed of decision making”. Goyal added that the job cuts “weren’t driven by artificial intelligence (AI)”. Impacted staff will receive “at least 16 weeks of severance pay”, as well as additional pay based on the length of their tenure. AdvertisementThis comes after Etsy agreed to sell secondhand marketplace Depop to Ebay for $1.2 billion (£888m) in February. Ebay’s acquisition of the platform was completed on 30 July, as reported earlier this week.